An auctioneer brings his hammer down for $5,200 (U.S.) for the first broodmare at the opening of the three-day auction of 350 horses. Mr. Tinkler is raising funds with the out-of-season sale that began on Tuesday.(TIM WIMBORNE/REUTERS)

Mr. Tinkler’s rise from pit electrician to Australia’s youngest billionaire has hit a hurdle, with creditors circling his stable of mining, sports and racing businesses.(TIM WIMBORNE/REUTERS)

An auctioneer’s assistant gestures to a bidder at the Magic Millions sales complex during the auction. Mr. Tinkler’s 19.4-per-cent stake in Australia’s biggest independent coal miner Whitehaven Coal Ltd., which represents the bulk of his wealth, is heavily leveraged.(TIM WIMBORNE/REUTERS)

A handler guides a horse near the stables at the Magic Millions sales complex at the auction. Falling coal prices have also reduced the value of Whitehaven Coal.(TIM WIMBORNE/REUTERS)

A handler guides a horse on stage to be auctioned. The stable’s stallion All Too Hard won the Caulfield Guineas two weeks ago, but other winners have been scarce.(TIM WIMBORNE/REUTERS)

A horse walks on stage at the sales complex. Mr. Tinkler started Patinack Farm in 2007 and, in 2008, spent A$19-million on 59 horses.(TIM WIMBORNE/REUTERS)

More Related to this Story

Next story

| Learn More

Discover content from The Globe and Mail that you might otherwise not have come across. Here we’ll provide you with fresh suggestions where we will continue to make even better ones as we get to know you better.

You can let us know if a suggestion is not to your liking by hitting the ‘’ close button to the right of the headline.

Restrictions

All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. Thomson Reuters is not liable for any errors or delays in Thomson Reuters content, or for any actions taken in reliance on such content. ‘Thomson Reuters’ and the Thomson Reuters logo are trademarks of Thomson Reuters and its affiliated companies.